A Model for Analyzing Youth Labor Market Policies
构建了一个一般均衡模型，分析青年劳动力市场中能力异质性与最低工资的相互作用，并评估青年次最低工资、雇佣补贴和培训补贴三种政策的效果。
This article formulates a general equilibrium model for analyzing the youth labor market. At the heart of the model is an interplay between a labor force with heterogeneous ability levels and a minimum wage restriction. Ability affects performance on skilled jobs and, to a lesser extent, on unskilled jobs. Workers are less productive as youths than as adults. The model is applied to rationalize several results from available studies and to analyze the effects of three representative policies: a youth subminimum wage, subsidies paid to firms that hire youths, and subsidies that offset the costs of on-the-job training. Copyright 1988 by University of Chicago Press.